Bookmaker deposit bonus offers are by far my favourite kind of reload offer.
They appear quite regularly and are simple to complete and can be very profitable.
For the most part they work in the same way as the deposit sign up offers.
1You make a deposit
2The bookmaker tops up your balance with the bonus amount
3You must complete the wagering requirement before you can make a withdrawal.
How do I get a deposit bonus offer?
Deposit offers are usually sent out via emails directly from the bookmakers.
Ensure you have accepted that the bookmaker can contact you with promotional offers. If you are unsure whether you have already done this you can always check your bookmaker account.
This offer often appears either when a new season starts or after the winter break.
It is also common to receive a deposit bonus offer from a bookmaker if you failed to complete the wagering requirement of the sign up offer. This would mean you have no money left in your bookmaker account (for example in the instance when your betting exchange bet(s) won and your profit is now in your betting exchange account.
For any reload deposit bonus offer it is very important that you check the wagering requirement, as it may be different from the requirements of the sign up offer.
Recommended strategy for bookmaker deposit bonus offers
Here is the process for a standard approach.
Make a deposit into your bookmaker account. You may have to input a promotional code when depositing funds. This will be mentioned in the email or in the terms and conditions.
Place Matched Bets until your bookmaker account is empty and the profits are in the betting exchange account; or until you have completed the wagering requirement.
The best case scenario is that your bookmaker bets lose and your betting exchange bets win. This will increase your profit and also, you do not have large amounts of money left in your bookmaker account.
Once you have completed the full offer, you are free to withdraw your money. You can read in the Account Preservation guide why it may be a good idea to leave the money in the bookmaker account unless you really need it.
In addition, have a look at the Matched Betting Beginner’s guide, where the process is explained in further details.
Alternative strategy for bookmaker deposit bonus offers
An alternative strategy is to underlay the full deposit and bonus amount. This is a great way to complete reload bonus offers.
It is recommended that you are very comfortable backing and laying bets and using the Oddsmatcher before using the underlaying method. I also recommend that you read the Underlaying guide.
Here is the process:
Use the Oddsmatcher to find the closest Matched Betting opportunity. Underlay the full amount in your account in one Matched Bet. If you deposited €100 to get a €100 bonus, you should bet the full €200 with the bookmaker and lay the bet with your betting exchange.
How to proceed depends on the outcome of your first bet.
The underlay bet lost – Happy days. All the money is now in your betting exchange account. As your bookmaker account is empty, there is no further wagering to complete.
The underlay bet won – You now have to start completing the wagering requirement. You should be using the Oddsmatcher to find the best matches and place them as “normal” bets.
Deposit bonus variations
A common variation to this kind of reload offer is where you will receive a free bet once you have made a deposit, instead of bonus amount.
Here is the process for this type of a deposit bonus:
Make a deposit to get the free bet
Use the Oddsmatcher to find the closest Matched Betting opportunity and place the free bet as a “SNR” free bet on odds of 4,00 or higher. Read this guide to fully understand why you should bet on minimum odds of 4,00.
The free bet lost – Happy days. All the money is now in your betting exchange account. No further action is required.
The free bet won – You now have to start completing the wagering requirement, if applicable. You should be using the Oddsmatcher to find the best matches and place them as “normal” bets. No further action is required if there is no wagering requirement.
It is important to check the terms and conditions, to find out whether there is a wagering requirement attached to your deposit. In most cases there is no wagering requirement.
However, almost all bookmakers will require you to wager any deposit once before you can request a withdrawal. The bookmakers claim this is to avoid money laundering but I have my doubts about this explanation.
I was once met with such a wagering requirement after I, by mistake, deposited 100€ instead of 10€. Even after explaining the mistake to customer support, they wouldn’t let me withdraw my money before I had wagered it once. So I placed a live bet on a tennis game at odds 1,005 or something in this region. The bet won and I was allowed to make my withdrawal.
Check out the Forum for current offers.